The 4 billion dollar collapse of the LIBRAKEN project led Binance Founder Changpeng Zhao (CZ) to list the points to be considered when choosing the tokens to invest.
Binance CZ: What should be considered for a healthy token?
Binance’s former CEO Changpeng Zhao shared his views on the discussions of the Pump-and-Dump (inflating and unloading), which revolved around Lıbra Token. X (formerly called Twitter) account, the leading names of the sector should be careful when supporting token, he said. According to Zhao, the token economy is of great importance for any crypto assets and in -depth research needs to be done before investing.
In addition, CZ emphasized that investing in a new asset naturally carries risks and said that a large amount of investment capital is in circulation due to the rapid growth of the crypto market. This has recently manifested itself with investments that have been directed towards Memecoins.
For example, the Trump family launched Trump and Melania tokens in January. Initially, Trump Token, which attracted great attention, became one of the most valuable tokens of the market in a few days. However, the acceleration of the rise disappeared and many investors damaged.
LIBRA TOKEN and Argentina Connection
The statements of the Binance founder came in response to a sharing of Pix, which describes him as a web3 researcher. Pix examined the origin of Lıbra Token and his connections with Argentine President Javier Milei.
LIBRA was released by Julian Peh, who invested in Bitcoin in 2016. Ethereum and NFT also entered the world of NFT, in 2021, Argentina President Milei met with artificial intelligence, small businesses and the economy of the future made a speech.
PEH, which attracted Milhei’s attention, joined the Buenos Aires Blockchain Committee and presented the idea of a national token to support small businesses. President Milei supported this idea and shared a X in X to Token. After that, investors flocked to the project with a large FOMO (fear of kidnapping).
However, Milei soon deleted his sharing and some investors from the inside made $ 87 million output. Following this incident, Lıbra Token was called one of the greatest political rug pulles in history.
Broccolı price ‘misunderstood’ binance cz jumped with tweet
On the other hand, Changpeng Zhao was recently about to retreat into a similar breast coin frenzy. After sharing the Belgian Malinois dog called “Broccoli” from his X account, the breast coins bearing the dog’s name were launched one after the other.
In this process, an investor has deposited a large amount of money into the Broccolı Token, increasing the price by 160 %. Some investors even demanded CZ to form an official token contract associated with his dog.
However, Zhao avoided such a move, cautious about such famous supported tokens. Starting from his experiences, he stated that LIBRA Token would be more successful if he had been planned better.
